Developers on Thursday announced a $175 million plan to demolish the long-vacant Lincoln Towers in Albany’s South End and redevelop the site with housing and retail establishments.
The Metropolitan Realty Group and Hoke Development, which recently secured site control from the Albany Housing Authority, according to the announcement, are working with Habitat for Humanity on the “Lincoln Terrace” project, which includes building 305 new housing units with retail stores.
“The project expects to vie for CAP funding, when available, as well as Low-Income Housing Tax Credits through New York State Homes and Community Renewal among other sources of financial assistance,” according to a press statement for the project…